Composites Market

Composites Market by Fiber Type (Glass Fiber Composites, Carbon Fiber Composites, Natural Fiber Composites), Resin Type (Thermoset Composites, Thermoplastic Composites), Manufacturing Process, End-use Industry and Region - Global Forecast to 2025

Report Code: CH 3185 Jul, 2020, by marketsandmarkets.com

[290 Pages Report] The global composites market size is projected to grow from USD 74.0 billion in 2020 to USD 112.8 billion by 2025, at a CAGR of 8.8%. The composites industry is growing due to the rise in demand for high performance materials, globally. The demand for composites is expected to decline in 2020 due to COVID-19. However, the end of lockdown and recovery in the end-use industries will stimulate the demand during the forecast period.

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Impact of COVID-19 on global composites market

COVID-19 has negatively affected the demand for composites across various end-use industries such as aerospace & defense, automotive & transportation, wind energy, construction & infrastructure, and pipes & tanks. The disruption in the supply chain resulting in delays or non-arrival of raw materials, disrupted financial flows, and growing absenteeism among production line workers have compelled aircraft and automobile manufacturers to operate at zero or partial capacities. This is leading to reduced demand for composites.

Increasing demand from the automotive & transportation industry to drive the demand for composites

The automotive & transportation industry has the largest share in the composites market in terms of volume. The industry commits to comply with stringent regulations such as the Corporate Average Fuel Efficiency (CAFE) standards and the European Emission Standards (EES) by the US and European governments. To reduce carbon dioxide (CO2) emissions, which have an adverse effect on the global climate, the automakers in these regions are focusing on the production of lightweight vehicles with composites to comply with the government regulations and enhance the fuel efficiency of vehicles.

Lack of standardization in manufacturing technologies is a major restrain for the composites market

Manufacturing and non-recurring development costs continue to limit the penetration of composites in several applications. Design consistency, process standardization, and maintenance technology are the major concerns. The lack of standardization of material and methodologies compels manufacturers to consider conservative designs, which hampers the mass production and economic performance of automobiles and aircraft. In addition, limited trained and experienced human resources restrain broader applications of composites.

Reduction of cost of carbon fibers is an excellent opportunity in the composites market

The major raw materials used for the production of carbon fiber aerospace composites are polymeric resins and carbon fibers. The cost of carbon fibers is directly proportional to the cost of precursor raw materials from which they are obtained. Currently, carbon fibers are obtained from polyacrylonitrile (PAN), the cost of which in aerospace applications is high. The development of low-cost and high yield precursors for making aerospace grade carbon fibers is likely to reduce the cost of carbon fibers significantly. These low-cost precursors for carbon fibers will reduce the cost of high-grade carbon fibers. The reduction in the cost of carbon fibers is expected to decrease the cost of carbon fiber composites, thereby driving the penetration of carbon fiber composites in various applications, such as aerospace and automotive.

Issues related to recycling pose the greatest challenge for composites manufacturers

The complex material compositions and the cross-linked nature of composites, especially thermoset composites, make the recyclability of composites difficult. Thermoset composites are difficult to recycle as they are not easy to remold unlike thermoplastics. The difficulty in recycling is a major challenge faced by composite manufacturers. Most of the composites used are disposed of at the landfill.

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The glass fiber composites to account for the largest market share, in terms of value and volume, during the forecast period

Glass fiber composites dominated the global composites industry in terms of volume and value. Glass fibers are high in demand as they are low cost and have superior physical & mechanical properties such as strength, durability, flexibility, stability, and lightweight. Glass fiber composites are used mostly in wind energy, pipes & tanks, electrical & electronics, and construction & infrastructure segments. However, due to COVID-19, the industries mentioned above will see a decline in composites demand to decline in aircraft deliveries, reduction in the number of wind energy installations as well as automobile sales, slow down in the oil & gas industry. The demand for composites will gain momentum with the recovery in end-use industries.

The lay-up manufacturing process accounted for a major share of the composites market in terms of value and volume during the forecast period.

The choice of the composites manufacturing process largely depends on the shape and the dimensions of the structural components to be manufactured. The global composites industry is categorized into several segments based on the manufacturing process: lay-up, filament winding, injection molding, compression molding, RTM, pultrusion, and others. The lay-up process had the largest share in the overall composites market in 2019, in terms of value and volume, due to the increased demand from wind energy, marine, and aerospace & defense end-use industries.  However, disruption in the supply chain across all industries has decreased the demand from in all manufacturing processes. The demand will be restored with the recovery in the supply chain during the forecast period.

The automotive & transportation end-use industry is expected to have the largest share in the composites market.

The strength-to-weight ratio of most composites is higher than that of steel and aluminum. The reduced weight for a given level of strength makes the use of composites vital in the transportation industry. Environmental regulations regarding emission standards, specifically in North America, Europe, and China, are the major driving factors behind the introduction of more lightweight and fuel-efficient composites. Due to COVID-19, automobile manufacturers and suppliers across the world are struggling to continue production after the shutdown of manufacturing plants in most of the countries. With the production crisis, automakers also have to deal with decreased composites demand in markets, such as the US, China, and Japan, in 2020. However, the sentiments of the people to travel in private cars for safety reasons will drive automotive sales and demand for composites post the pandemic.

Adaptive Learning Market by Region

APAC held the largest market share in the composites market

APAC accounts for the largest market share in the composites industry owing to the growing economies of China and India, the presence of prominent players, and expanding transportation, wind energy, and construction & infrastructure industries. Due to the outbreak of COVID-19, the demand for composites has declined from the automotive & transportation, electrical & electronics, construction & infrastructure, and pipes & tanks industries. However, major composite manufactures such as Teijin Ltd. (Japan), Toray Industries, Inc. (Japan), and Jushi Group (China) are operating in adverse situations with all the stipulated COVID-19 regulations. Furthermore, with the recovery of all industries and high-performance properties of composites, the demand for glass fiber composites will rise in the region after 2020.

Key Market Players

The key players in the global composites market are: - Owens Corning (US): https://www.owenscorning.com/, Toray Industries, Inc. (Japan): https://www.toray.com/, Teijin Limited (Japan): https://www.teijin.com/, Solvay (Belgium): https://www.solvay.com/en/, Hexcel Corporation (US): https://www.hexcel.com/, Mitsubishi Chemical Holdings Corporation (Japan), SGL Group (Germany), Nippon Electrical Glass Co. Ltd. (Japan), Huntsman International LLC. (US).

These companies are involved in adopting various inorganic and organic strategies to increase their foothold in the composites industry. The study includes an in-depth competitive analysis of these key players in the composites market, with their company profiles, recent developments, and key market strategies. 

Scope of the Report

Report Metric

Details

Years considered for the study

2016–2025

Base year

2019

Forecast period

2020–2025

Units considered

Value (USD Million), Volume (Kiloton)

Segments

Fiber Type, Resin Type, End-Use Industry, Manufacturing Process,and Region

Regions

Europe, North America,  APAC, MEA, and Latin America

Companies

Owens Corning (US), Toray Industries, Inc. (Japan), Teijin Limited (Japan), Mitsubishi Chemical Holdings Corporation (Japan), Hexcel Corporation (US), SGL Group (Germany), Nippon Electrical Glass Co. Ltd. (Japan), Huntsman International LLC. (US), Solvay (Belgium), Gurit (Switzerland), among others

This research report categorizes the composites market based on fiber type, resin type, manufacturing process, end-use industry, and region.

By Fiber Type:

  • Glass Fiber Composites
  • Carbon Fiber Composites
  • Natural Fiber Composites
  • Other Fiber Composites

By Resin Type:

  • Thermoset Composites
  • Thermoplastic  Composites

By End-use Industry:

  • Aerospace & Defense
  • Wind Energy
  • Automotive Transportation
  • Construction & Infrastructure
  • Marine
  • Pipes & Tanks
  • Electrical & Electronics
  • Others

By Region:

  • North America
  • Europe
  • APAC
  • MEA
  • Latin America

Recent Developments

  • In July 2019, Owens Corning announced the signing of a definitive agreement where it will acquire Saint-Gobain’s Reinforcement and Composites business for USD 640 million. This will build Owen’s Corning’s position as a market leader in glass reinforcements and composites.
  • In February 2019, Teijin acquired Renegade Materials Corporation, a supplier of highly heat-resistant thermoset prepreg for the aerospace industry in North America. This has helped the company to solidify its position as a leading provider of solutions for aerospace applications.
  • In April 2018, Toray expanded the large tow carbon fiber production capacity at its US-based subsidiary, Zoltek Companies, Inc. They are also planning to increase the production capacity of Zoltek’s Hungarian and Mexican facilities. This will lead to Zoltek’s total annual production capacity of approximately 25,000 tons.
  • In March 2018, Hexcel entered into a partnership with Arkema for manufacturing carbon fiber-based thermoplastic composite solutions for the aerospace sector. This helped the company to become an industry leader in advanced composite thermoplastic technologies.
  • In October 2017, Hexcel entered into a contract with UTC Aerospace Systems to supply advanced composites for various commercial aerospace programs. This helped the company to underscore its position as a leader in carbon fiber reinforcements in the commercial aerospace industry.  
  • In March 2017, Solvay launched a new thermoset prepreg resin system SolvaLite 730, for high volume automotive applications.

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

TABLE OF CONTENTS

1 INTRODUCTION (Page No. - 33)
    1.1 OBJECTIVES OF THE STUDY
    1.2 MARKET DEFINITION
    1.3 MARKET SCOPE
           1.3.1 MARKET SEGMENTATION
           1.3.2 REGIONS COVERED
           1.3.3 YEARS CONSIDERED FOR THE STUDY
    1.4 CURRENCY
    1.5 UNIT CONSIDERED
    1.6 STAKEHOLDERS

2 RESEARCH METHODOLOGY (Page No. - 37)
    2.1 RESEARCH DATA
        FIGURE 1 COMPOSITES MARKET: RESEARCH DESIGN
           2.1.1 SECONDARY DATA
                    2.1.1.1 Key data from secondary sources
           2.1.2 PRIMARY DATA
                    2.1.2.1 Key data from primary sources
                    2.1.2.2 Key industry insights
                    2.1.2.3 Breakdown of primary interviews
    2.2 MARKET SIZE ESTIMATION
           2.2.1 SUPPLY SIDE ANALYSIS
                 FIGURE 2 MARKET NUMBER ESTIMATION
                 FIGURE 3 METHODOLOGY: TOTAL COMPOSITES MARKET
           2.2.2 SEGMENT ANALYSIS
           2.2.3 FORECAST
    2.3 DATA TRIANGULATION
        FIGURE 4 COMPOSITES MARKET: DATA TRIANGULATION
    2.4 ASSUMPTIONS
    2.5 LIMITATIONS

3 EXECUTIVE SUMMARY (Page No. - 45)
    3.1 IMPACT OF THE PANDEMIC COVID-19 ON THE COMPOSITES MARKET
        FIGURE 5 GLASS FIBER TO DOMINATE THE GLOBAL COMPOSITES MARKET BETWEEN 2020 AND 2025
        FIGURE 6 THERMOSET COMPOSITES ACCOUNTED FOR THE LARGEST MARKET SHARE IN 2019
        FIGURE 7 LAY-UP MANUFACTURING PROCESS ACCOUNTED FOR THE LARGEST SHARE OF THE COMPOSITES MARKET IN 2019
        FIGURE 8 AEROSPACE & DEFENSE ACCOUNTED FOR THE LARGEST MARKET SHARE IN 2019
        FIGURE 9 APAC TO BE THE FASTEST-GROWING COMPOSITES MARKET BETWEEN 2020 AND 2025

4 PREMIUM INSIGHTS (Page No. - 51)
    4.1 ATTRACTIVE OPPORTUNITIES IN THE COMPOSITES MARKET
        FIGURE 10 HIGH DEMAND FROM THE AUTOMOTIVE & TRANSPORTATION INDUSTRY TO DRIVE THE MARKET DURING THE FORECAST PERIOD
    4.2 COMPOSITES MARKET, BY MANUFACTURING PROCESS AND REGION
        FIGURE 11 APAC WAS THE LARGEST MARKET AND LAY-UP THE LARGEST MANUFACTURING PROCESS IN 2019
    4.3 COMPOSITES MARKET, BY END-USE INDUSTRY
        FIGURE 12 AEROSPACE & DEFENSE INDUSTRY TO REGISTER THE HIGHEST CAGR DURING THE FORECAST PERIOD
    4.4 COMPOSITES MARKET, BY FIBER TYPE
        FIGURE 13 GLASS FIBER COMPOSITES SEGMENT DOMINATES THE COMPOSITES MARKET
    4.5 COMPOSITES MARKET, BY RESIN TYPE
        FIGURE 14 THERMOSET COMPOSITES SEGMENT DOMINATES THE COMPOSITES MARKET, 2019
    4.6 COMPOSITES MARKET, BY KEY COUNTRIES
        FIGURE 15 CHINA TO REGISTER THE HIGHEST CAGR IN THE COMPOSITES MARKET DURING THE FORECAST PERIOD

5 MARKET OVERVIEW (Page No. - 55)
    5.1 INTRODUCTION
    5.2 MARKET DYNAMICS
        FIGURE 16 DRIVERS, RESTRAINTS, OPPORTUNITIES, AND CHALLENGES IN THE COMPOSITES MARKET
           5.2.1 DRIVERS
                    5.2.1.1 Increasing demand from end-use industries
                            TABLE 1 EU: CO2 EMISSION STANDARDS FOR NEW PASSENGER CARS
                    5.2.1.2 Government stimulus packages to drive the composites market post COVID-19
                    5.2.1.3 Tax incentives to drive the composites demand in wind energy
                    5.2.1.4 Low crude oil prices to partially offset the impact of COVID-19
           5.2.2 RESTRAINTS
                    5.2.2.1 High processing and manufacturing cost
                    5.2.2.2 Lack of standardization in manufacturing technologies
                    5.2.2.3 Disruption in supply chain and logistics due to COVID-19
                    5.2.2.4 Lower capacity utilization and liquidity crunch due to COVID-19
           5.2.3 OPPORTUNITIES
                    5.2.3.1 Increasing demand in emerging economies
                    5.2.3.2 High demand for environment-friendly electric vehicles
                    5.2.3.3 Growing adoption of natural composites
                    5.2.3.4 Penetration of carbon fiber composites in new applications
                    5.2.3.5 Reduction of carbon fibers cost
                    5.2.3.6 Increasing awareness of OEMs regarding strict government regulations
           5.2.4 CHALLENGES
                    5.2.4.1 Developing low-cost technologies
                    5.2.4.2 Issues related to recycling
    5.3 PORTER’S FIVE FORCES ANALYSIS
        FIGURE 17 PORTER’S FIVE FORCES: COMPOSITES MARKET
           5.3.1 THREAT OF NEW ENTRANTS
           5.3.2 THREAT OF SUBSTITUTES
           5.3.3 BARGAINING POWER OF SUPPLIERS
           5.3.4 BARGAINING POWER OF BUYERS
           5.3.5 INTENSITY OF COMPETITIVE RIVALRY
    5.4 VALUE CHAIN OF COMPOSITES INDUSTRY
        FIGURE 18 VALUE CHAIN OF COMPOSITES INDUSTRY
    5.5 VALUE CHAIN ANALYSIS AND IMPACT OF COVID-19
           5.5.1 RAW MATERIALS
           5.5.2 INTERMEDIATES
           5.5.3 MOLDER
           5.5.4 OEM/ASSEMBLY

6 MACROECONOMIC OVERVIEW AND KEY TRENDS (Page No. - 68)
    6.1 INTRODUCTION
           6.1.1 TRENDS AND FORECAST OF GDP
                 TABLE 2 ANNUAL PERCENTAGE CHANGE OF GDP, BY REGION, APRIL 2020
           6.1.2 IMPACT OF COVID-19 ON THE AEROSPACE INDUSTRY
                 TABLE 3 NUMBER OF AIRPLANE DELIVERIES, BY MANUFACTURER, 2019
                    6.1.2.1 Short-term strategies to manage cost structure and supply chains
                    6.1.2.2 New opportunities
    6.2 IMPACT OF COVID-19 ON THE AUTOMOTIVE INDUSTRY
           6.2.1 SHORT-TERM STRATEGIES TO MANAGE COST STRUCTURE AND SUPPLY CHAINS
           6.2.2 IMPACT ON ELECTRIC VEHICLE (EV) DEMAND DUE TO LOWER OIL PRICES
           6.2.3 NEW OPPORTUNITIES
    6.3 IMPACT OF COVID-19 ON THE WIND ENERGY INDUSTRY
           6.3.1 SHORT-TERM STRATEGIES TO MANAGE COST STRUCTURE AND SUPPLY CHAINS
           6.3.2 NEW OPPORTUNITIES

7 COMPOSITES MARKET, BY FIBER TYPE (Page No. - 73)
    7.1 INTRODUCTION
        FIGURE 19 GLASS FIBER COMPOSITES TO DOMINATE THE COMPOSITES MARKET
        TABLE 4 COMPOSITES MARKET SIZE, BY FIBER TYPE, 2016–2019 (USD MILLION)
        TABLE 5 COMPOSITES MARKET SIZE, BY FIBER TYPE, 2016–2019 (KILOTON)
        TABLE 6 COMPOSITES MARKET SIZE, BY FIBER TYPE, 2020–2025 (USD MILLION)
        TABLE 7 COMPOSITES MARKET SIZE, BY FIBER TYPE, 2020–2025 (KILOTON)
    7.2 IMPACT OF COVID-19 PANDEMIC ON COMPOSITES FIBER TYPE MARKET
    7.3 GLASS FIBER COMPOSITES
        FIGURE 20 APAC TO BE THE LARGEST GLASS FIBER COMPOSITES MARKET
           7.3.1 GLASS FIBER COMPOSITES MARKET, BY REGION
                 TABLE 8 GLASS FIBER COMPOSITES MARKET SIZE, BY REGION, 2016–2019 (USD MILLION)
                 TABLE 9 GLASS FIBER COMPOSITES MARKET SIZE, BY REGION, 2016–2019 (KILOTON)
                 TABLE 10 GLASS FIBER COMPOSITES MARKET SIZE, BY REGION, 2020–2025 (USD MILLION)
                 TABLE 11 GLASS FIBER COMPOSITES MARKET SIZE, BY REGION, 2020–2025 (KILOTON)
    7.4 CARBON FIBER COMPOSITES
           7.4.1 CARBON FIBER COMPOSITES MARKET, BY REGION
                 TABLE 12 CARBON FIBER COMPOSITES MARKET SIZE, BY REGION, 2016–2019 (USD MILLION)
                 TABLE 13 CARBON FIBER COMPOSITES MARKET SIZE, BY REGION, 2016–2019 (KILOTON)
                 TABLE 14 CARBON FIBER COMPOSITES MARKET SIZE, BY REGION, 2020–2025 (USD MILLION)
                 TABLE 15 CARBON FIBER COMPOSITES MARKET SIZE, BY REGION, 2020–2025 (KILOTON)
    7.5 NATURAL FIBER COMPOSITES
                 TABLE 16 NATURAL FIBER COMPOSITES IN AUTOMOTIVE INDUSTRY BY DIFFERENT MANUFACTURERS
           7.5.1 NATURAL FIBER COMPOSITES MARKET, BY REGION
                 TABLE 17 NATURAL FIBER COMPOSITES MARKET SIZE, BY REGION, 2016–2019 (USD MILLION)
                 TABLE 18 NATURAL FIBER COMPOSITES MARKET SIZE, BY REGION, 2016–2019 (KILOTON)
                 TABLE 19 NATURAL FIBER COMPOSITES MARKET SIZE, BY REGION, 2020–2025 (USD MILLION)
                 TABLE 20 NATURAL FIBER COMPOSITES MARKET SIZE, BY REGION, 2020–2025 (KILOTON)
    7.6 OTHERS
           7.6.1 BASALT FIBER COMPOSITES
           7.6.2 ARAMID FIBER COMPOSITES
           7.6.3 BORON FIBER COMPOSITES
           7.6.4 HYBRID FIBER COMPOSITES
           7.6.5 ULTRA-HIGH-MOLECULAR-WEIGHT POLYETHYLENE (UHMWPE)FIBER COMPOSITES
           7.6.6 OTHER FIBER COMPOSITES MARKET, BY REGION
                 TABLE 21 OTHER FIBER COMPOSITES MARKET SIZE, BY REGION, 2016–2019 (USD MILLION)
                 TABLE 22 OTHER FIBER COMPOSITES MARKET SIZE, BY REGION, 2016–2019 (KILOTON)
                 TABLE 23 OTHER FIBER COMPOSITES MARKET SIZE, BY REGION, 2020–2025 (USD MILLION)
                 TABLE 24 OTHER FIBER COMPOSITES MARKET SIZE, BY REGION, 2020–2025 (KILOTON)

8 COMPOSITES MARKET, BY RESIN TYPE (Page No. - 87)
    8.1 INTRODUCTION
        FIGURE 21 THERMOPLASTIC COMPOSITES TO GROW AT A HIGHER CAGR
        TABLE 25 COMPOSITES MARKET SIZE, BY RESIN TYPE, 2016–2019 (USD MILLION)
        TABLE 26 COMPOSITES MARKET SIZE, BY RESIN TYPE, 2016–2019 (KILOTON)
        TABLE 27 COMPOSITES MARKET SIZE, BY RESIN TYPE, 2020–2025 (USD MILLION)
        TABLE 28 COMPOSITES MARKET SIZE, BY RESIN TYPE, 2020–2025 (KILOTON)
    8.2 IMPACT OF COVID-19 PANDEMIC ON COMPOSITES RESIN TYPE MARKET
    8.3 THERMOSET COMPOSITES
           8.3.1 EPOXY RESIN
           8.3.2 POLYESTER RESIN
           8.3.3 VINYL ESTER RESIN
           8.3.4 POLYURETHANE RESIN
           8.3.5 OTHERS
        FIGURE 22 THE DEMAND FOR THERMOSET COMPOSITES IS HIGH IN APAC
           8.3.6 THERMOSET COMPOSITES MARKET, BY REGION
                 TABLE 29 THERMOSET COMPOSITES MARKET SIZE, BY REGION, 2016–2019 (USD MILLION)
                 TABLE 30 THERMOSET COMPOSITES MARKET SIZE, BY REGION, 2016–2019 (KILOTON)
                 TABLE 31 THERMOSET COMPOSITES MARKET SIZE, BY REGION, 2020–2025 (USD MILLION)
                 TABLE 32 THERMOSET COMPOSITES MARKET SIZE, BY REGION, 2020–2025 (KILOTON)
    8.4 THERMOPLASTIC COMPOSITES
           8.4.1 POLYCARBONATES (PC)
           8.4.2 POLYPROPYLENE (PP)
           8.4.3 POLYPHENYLENE SULFIDE (PPS)
           8.4.4 POLYETHERIMIDE (PEI)
           8.4.5 POLYETHERETHERKETONE (PEEK)
           8.4.6 POLYAMIDE (PA)
           8.4.7 OTHERS
           8.4.8 THERMOPLASTIC COMPOSITES MARKET, BY REGION
                 TABLE 33 THERMOPLASTIC COMPOSITES MARKET SIZE, BY REGION, 2016–2019 (USD MILLION)
                 TABLE 34 THERMOPLASTIC COMPOSITES MARKET SIZE, BY REGION, 2016–2019 (KILOTON)
                 TABLE 35 THERMOPLASTIC COMPOSITES MARKET SIZE, BY REGION, 2020–2025 (USD MILLION)
                 TABLE 36 THERMOPLASTIC COMPOSITES MARKET SIZE, BY REGION, 2020–2025 (KILOTON)

9 COMPOSITES MARKET, BY MANUFACTURING PROCESS (Page No. - 98)
    9.1 INTRODUCTION
        TABLE 37 COMPARATIVE STUDY OF MAJOR COMPOSITE MANUFACTURING PROCESSES
        FIGURE 23 LAY-UP MANUFACTURING PROCESS TO DOMINATE THE MARKET DURING THE FORECAST PERIOD
        TABLE 38 COMPOSITES MARKET SIZE, BY MANUFACTURING PROCESS, 2016–2019 (USD MILLION)
        TABLE 39 COMPOSITES MARKET SIZE, BY MANUFACTURING PROCESS, 2016–2019 (KILOTON)
        TABLE 40 COMPOSITES MARKET SIZE, BY MANUFACTURING PROCESS, 2020–2025 (USD MILLION)
        TABLE 41 COMPOSITES MARKET SIZE, BY MANUFACTURING PROCESS, 2020–2025 (KILOTON)
    9.2 IMPACT OF COVID-19 ON COMPOSITE MANUFACTURERS AND MANUFACTURING PROCESSES
    9.3 LAY-UP PROCESS
        FIGURE 24 APAC TO HAVE THE LARGEST DEMAND FOR LAY-UP PROCESS
           9.3.1 LAY-UP PROCESS: COMPOSITES MARKET, BY REGION, 103
                 TABLE 42 LAY-UP PROCESS: COMPOSITES MARKET SIZE, BY REGION, 2016–2019 (USD MILLION)
                 TABLE 43 LAY-UP PROCESS: COMPOSITES MARKET SIZE, BY REGION, 2016–2019 (KILOTON)
                 TABLE 44 LAY-UP PROCESS: COMPOSITES MARKET SIZE, BY REGION, 2020–2025 (USD MILLION)
                 TABLE 45 LAY-UP PROCESS: COMPOSITES MARKET SIZE, BY REGION, 2020–2025 (KILOTON)
    9.4 FILAMENT WINDING PROCESS
           9.4.1 FILAMENT WINDING PROCESS: COMPOSITES MARKET, BY REGION
                 TABLE 46 FILAMENT WINDING PROCESS: COMPOSITES MARKET SIZE, BY REGION, 2016–2019 (USD MILLION)
                 TABLE 47 FILAMENT WINDING PROCESS: COMPOSITES MARKET SIZE, BY REGION, 2016–2019 (KILOTON)
                 TABLE 48 FILAMENT WINDING: COMPOSITES MARKET SIZE, BY REGION, 2020–2025 (USD MILLION)
                 TABLE 49 FILAMENT WINDING PROCESS: COMPOSITES MARKET SIZE, BY REGION, 2020–2025 (KILOTON)
    9.5 INJECTION MOLDING PROCESS
           9.5.1 INJECTION MOLDING PROCESS: COMPOSITES MARKET, BY REGION
                 TABLE 50 INJECTION MOLDING PROCESS: COMPOSITES MARKET SIZE, BY REGION, 2016–2019 (USD MILLION)
                 TABLE 51 INJECTION MOLDING PROCESS: COMPOSITES MARKET SIZE, BY REGION, 2016–2019 (KILOTON)
                 TABLE 52 INJECTION MOLDING PROCESS: COMPOSITES MARKET SIZE, BY REGION, 2020–2025 (USD MILLION)
                 TABLE 53 INJECTION MOLDING PROCESS: COMPOSITES MARKET SIZE, BY REGION, 2020–2025 (KILOTON)
    9.6 PULTRUSION PROCESS
           9.6.1 PULTRUSION PROCESS: COMPOSITES MARKET, BY REGION
                 TABLE 54 PULTRUSION PROCESS: COMPOSITES MARKET SIZE, BY REGION, 2016–2019 (USD MILLION)
                 TABLE 55 PULTRUSION PROCESS: COMPOSITES MARKET SIZE, BY REGION, 2016–2019 (KILOTON)
                 TABLE 56 PULTRUSION PROCESS: COMPOSITES MARKET SIZE, BY REGION, 2020–2025 (USD MILLION)
                 TABLE 57 PULTRUSION PROCESS: COMPOSITES MARKET SIZE, BY REGION, 2020–2025 (KILOTON)
    9.7 COMPRESSION MOLDING PROCESS
           9.7.1 COMPRESSION MOLDING PROCESS: COMPOSITES MARKET, BY REGION
                 TABLE 58 COMPRESSION MOLDING PROCESS: COMPOSITES MARKET SIZE, BY REGION, 2016–2019 (USD MILLION)
                 TABLE 59 COMPRESSION MOLDING PROCESS: COMPOSITES MARKET SIZE, BY REGION, 2016–2019 (KILOTON)
                 TABLE 60 COMPRESSION MOLDING PROCESS: COMPOSITES MARKET SIZE, BY REGION, 2020–2025 (USD MILLION)
                 TABLE 61 COMPRESSION MOLDING PROCESS: COMPOSITES MARKET SIZE, BY REGION, 2020–2025 (KILOTON)
    9.8 RESIN TRANSFER MOLDING (RTM) PROCESS
           9.8.1 RTM PROCESS: COMPOSITES MARKET, BY REGION
                 TABLE 62 RTM PROCESS: COMPOSITES MARKET SIZE, BY REGION, 2016–2019 (USD MILLION)
                 TABLE 63 RTM PROCESS: COMPOSITES MARKET SIZE, BY REGION, 2016–2019 (KILOTON)
                 TABLE 64 RTM PROCESS: COMPOSITES MARKET SIZE, BY REGION, 2020–2025 (USD MILLION)
                 TABLE 65 RTM PROCESS: COMPOSITES MARKET SIZE, BY REGION, 2020–2025 (KILOTON)
    9.9 OTHERS
           9.9.1 OTHER PROCESSES: COMPOSITES MARKET, BY REGION
                 TABLE 66 OTHER PROCESSES: COMPOSITES MARKET SIZE, BY REGION, 2016–2019 (USD MILLION)
                 TABLE 67 OTHER PROCESSES: COMPOSITES MARKET SIZE, BY REGION, 2016–2019 (KILOTON)
                 TABLE 68 OTHER PROCESSES: COMPOSITES MARKET SIZE, BY REGION, 2020–2025 (USD MILLION)
                 TABLE 69 OTHER PROCESSES: COMPOSITES MARKET SIZE, BY REGION, 2020–2025 (KILOTON)

10 COMPOSITES MARKET, BY END-USE INDUSTRY (Page No. - 117)
     10.1 INTRODUCTION
          FIGURE 25 AEROSPACE & DEFENSE INDUSTRY TO OUTPACE OTHER END-USE INDUSTRIES DURING THE FORECAST PERIOD
          TABLE 70 COMPOSITES MARKET SIZE, BY END-USE INDUSTRY, 2016–2019 (USD MILLION)
          TABLE 71 COMPOSITES MARKET SIZE, BY END-USE INDUSTRY, 2016–2019 (KILOTON)
          TABLE 72 COMPOSITES MARKET SIZE, BY END-USE INDUSTRY, 2020–2025 (USD MILLION)
          TABLE 73 COMPOSITES MARKET SIZE, BY END-USE INDUSTRY, 2020–2025 (KILOTON)
     10.2 IMPACT OF COVID-19 ON END-USE INDUSTRIES
             10.2.1 AUTOMOTIVE
             10.2.2 AEROSPACE
             10.2.3 WIND ENERGY
     10.3 AUTOMOTIVE & TRANSPORTATION
          TABLE 74 COST BENEFITS OF COMPOSITE PARTS VS STEEL PARTS
             10.3.1 AUTOMOTIVE
             10.3.2 RECREATIONAL VEHICLES
             10.3.3 BUS, TRUCKS, AND OTHER HEAVY VEHICLES
             10.3.4 METROS AND MONORAILS
             10.3.5 PASSENGER RAILS
             10.3.6 HIGH SPEED AND BULLET TRAINS
                    FIGURE 26 APAC TO LEAD THE COMPOSITES MARKET IN THE AUTOMOTIVE & TRANSPORTATION INDUSTRY
             10.3.7 COMPOSITES MARKET SIZE IN AUTOMOTIVE & TRANSPORTATION END-USE INDUSTRY, BY REGION
                    TABLE 75 COMPOSITES MARKET SIZE IN AUTOMOTIVE & TRANSPORTATION END-USE INDUSTRY, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 76 COMPOSITES MARKET SIZE IN TRANSPORTATION END-USE INDUSTRY, BY REGION, 2016–2019 (KILOTON)
                    TABLE 77 UNITS OF ELECTRIC VEHICLES SOLD, BY COUNTRY (2015–2018)
                    TABLE 78 COMPOSITES MARKET SIZE IN AUTOMOTIVE & TRANSPORTATION END-USE INDUSTRY, BY REGION, 2020–2025 (USD MILLION)
                    TABLE 79 COMPOSITES MARKET SIZE IN AUTOMOTIVE & TRANSPORTATION END-USE INDUSTRY, BY REGION, 2020–2025 (KILOTON)
     10.4 AEROSPACE & DEFENSE
             10.4.1 CIVIL
             10.4.2 DEFENSE
                    TABLE 80 NUMBER OF NEW COMMERCIAL AIRPLANE DELIVERIES, BY REGION (2019–2038)
                    TABLE 81 CARBON FIBER CONSUMPTION PER AIRCRAFT, 2018 (TON)
                    TABLE 82 TREND OF KEY CARBON FIBER CONSUMING COMMERCIAL AIRCRAFT PRODUCTION (2017–2024)
             10.4.3 COMPOSITES MARKET SIZE IN AEROSPACE & DEFENSE END-USE INDUSTRY, BY REGION
                    TABLE 83 COMPOSITES MARKET SIZE IN AEROSPACE & DEFENSE END-USE INDUSTRY, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 84 COMPOSITES MARKET SIZE IN AEROSPACE & DEFENSE END-USE INDUSTRY, BY REGION, 2016–2019 (KILOTON)
                    TABLE 85 COMPOSITES MARKET SIZE IN AEROSPACE & DEFENSE END-USE INDUSTRY, BY REGION, 2020–2025 (USD MILLION)
                    TABLE 86 COMPOSITES MARKET SIZE IN AEROSPACE & DEFENSE END-USE INDUSTRY, BY REGION, 2020–2025 (KILOTON)
     10.5 WIND ENERGY
          TABLE 87 BREAKDOWN OF MATERIALS USED IN WIND BLADE MANUFACTURING
             10.5.1 COMPOSITES MARKET SIZE IN WIND ENERGY END-USE INDUSTRY, BY REGION
                    TABLE 88 COMPOSITES MARKET SIZE IN WIND ENERGY END-USE INDUSTRY, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 89 COMPOSITES MARKET SIZE IN WIND ENERGY END-USE INDUSTRY, BY REGION, 2016–2019 (KILOTON)
                    TABLE 90 COMPOSITES MARKET SIZE IN WIND ENERGY END-USE INDUSTRY, BY REGION, 2020–2025 (USD MILLION)
                    TABLE 91 COMPOSITES MARKET SIZE IN WIND ENERGY END-USE INDUSTRY, BY REGION, 2020–2025 (KILOTON)
     10.6 CONSTRUCTION & INFRASTRUCTURE
             10.6.1 COMPOSITES MARKET SIZE IN CONSTRUCTION & INFRASTRUCTURE END-USE INDUSTRY, BY REGION
                    TABLE 92 COMPOSITES MARKET SIZE IN CONSTRUCTION & INFRASTRUCTURE END-USE INDUSTRY, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 93 COMPOSITES MARKET SIZE IN CONSTRUCTION & INFRASTRUCTURE END-USE INDUSTRY, BY REGION, 2016–2019 (KILOTON)
                    TABLE 94 COMPOSITES MARKET SIZE IN CONSTRUCTION & INFRASTRUCTURE END-USE INDUSTRY, BY REGION, 2020–2025 (USD MILLION)
                    TABLE 95 COMPOSITES MARKET SIZE IN CONSTRUCTION & INFRASTRUCTURE END-USE INDUSTRY, BY REGION, 2020–2025 (KILOTON)
     10.7 PIPES & TANKS
             10.7.1 COMPOSITES MARKET SIZE IN PIPES & TANKS END-USE INDUSTRY, BY REGION
                    TABLE 96 COMPOSITES MARKET SIZE IN PIPES & TANKS END-USE INDUSTRY, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 97 COMPOSITES MARKET SIZE IN PIPES & TANKS END-USE INDUSTRY, BY REGION, 2016–2019 (KILOTON)
                    TABLE 98 COMPOSITES MARKET SIZE IN PIPES & TANKS END-USE INDUSTRY, BY REGION, 2020–2025 (USD MILLION)
                    TABLE 99 COMPOSITES MARKET SIZE IN PIPES & TANKS END-USE INDUSTRY, BY REGION, 2020–2025 (KILOTON)
     10.8 MARINE
             10.8.1 POWERBOAT
             10.8.2 SAILBOAT
             10.8.3 CRUISE SHIP
             10.8.4 OTHERS
             10.8.5 COMPOSITES MARKET SIZE IN MARINE END-USE INDUSTRY, BY REGION
                    TABLE 100 COMPOSITES MARKET SIZE IN MARINE END-USE INDUSTRY, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 101 COMPOSITES MARKET SIZE IN MARINE END-USE INDUSTRY, BY REGION, 2016–2019 (KILOTON)
                    TABLE 102 COMPOSITES MARKET SIZE IN MARINE END-USE INDUSTRY, BY REGION, 2020–2025 (USD MILLION)
                    TABLE 103 COMPOSITES MARKET SIZE IN MARINE END-USE INDUSTRY, BY REGION, 2020–2025 (KILOTON)
     10.9 ELECTRICAL & ELECTRONICS
             10.9.1 COMPOSITES MARKET SIZE IN ELECTRICAL & ELECTRONICS END-USE INDUSTRY, BY REGION
                    TABLE 104 COMPOSITES MARKET SIZE IN ELECTRICAL & ELECTRONICS END-USE INDUSTRY, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 105 COMPOSITES MARKET SIZE IN ELECTRICAL & ELECTRONICS END-USE INDUSTRY, BY REGION, 2016–2019 (KILOTON)
                    TABLE 106 COMPOSITES MARKET SIZE IN ELECTRICAL & ELECTRONICS END-USE INDUSTRY, BY REGION, 2020–2025 (USD MILLION)
                    TABLE 107 COMPOSITES MARKET SIZE IN ELECTRICAL & ELECTRONICS END-USE INDUSTRY, BY REGION, 2020–2025 (KILOTON)
     10.10 OTHERS
             10.10.1 INDUSTRIAL
             10.10.2 HEALTHCARE
             10.10.3 SPORTING GOODS
             10.10.4 COMPOSITES MARKET SIZE IN OTHER END-USE INDUSTRIES, BY REGION
                    TABLE 108 COMPOSITES MARKET SIZE IN OTHER END-USE INDUSTRIES, BY REGION, 2016–2019 (USD MILLION)
                    TABLE 109 COMPOSITES MARKET SIZE IN OTHER END-USE INDUSTRIES, BY REGION, 2016–2019 (KILOTON)
                    TABLE 110 COMPOSITES MARKET SIZE IN OTHER END-USE INDUSTRIES, BY REGION, 2020–2025 (USD MILLION)
                    TABLE 111 COMPOSITES MARKET SIZE IN OTHER END-USE INDUSTRIES, BY REGION, 2020–2025 (KILOTON)

11 COMPOSITES MARKET, BY REGION (Page No. - 146)
     11.1 INTRODUCTION
     11.2 REGIONAL IMPACT OF COVID-19
          FIGURE 27 CHINA TO BE THE FASTEST-GROWING MARKET BETWEEN 2020 AND 2025
          TABLE 112 COMPOSITES MARKET SIZE, BY REGION, 2016–2019 (USD MILLION)
          TABLE 113 COMPOSITES MARKET SIZE, BY REGION, 2016–2019 (KILOTON)
          TABLE 114 COMPOSITES MARKET SIZE IN OTHER END-USE INDUSTRY, BY REGION, 2020–2025 (USD MILLION)
          TABLE 115 COMPOSITES MARKET SIZE IN OTHER END-USE INDUSTRY, BY REGION, 2020–2025 (KILOTON)
     11.3 NORTH AMERICA
          FIGURE 28 NORTH AMERICA: COMPOSITES MARKET SNAPSHOT
             11.3.1 NORTH AMERICA: COMPOSITES MARKET, BY FIBER TYPE
                    TABLE 116 NORTH AMERICA: COMPOSITES MARKET SIZE, BY FIBER TYPE, 2016–2019 (USD MILLION)
                    TABLE 117 NORTH AMERICA: COMPOSITES MARKET SIZE, BY FIBER TYPE, 2016–2019 (KILOTON)
                    TABLE 118 NORTH AMERICA: COMPOSITES MARKET SIZE, BY FIBER TYPE, 2020–2025 (USD MILLION)
                    TABLE 119 NORTH AMERICA: COMPOSITES MARKET SIZE, BY FIBER TYPE, 2020–2025 (KILOTON)
             11.3.2 NORTH AMERICA: COMPOSITES MARKET, BY MANUFACTURING PROCESS
                    TABLE 120 NORTH AMERICA: COMPOSITES MARKET SIZE, BY MANUFACTURING PROCESS, 2016–2019 (USD MILLION)
                    TABLE 121 NORTH AMERICA: COMPOSITES MARKET SIZE, BY MANUFACTURING PROCESS, 2016–2019 (KILOTON)
                    TABLE 122 NORTH AMERICA: COMPOSITES MARKET SIZE, BY MANUFACTURING PROCESS, 2020–2025 (USD MILLION)
                    TABLE 123 NORTH AMERICA: COMPOSITES MARKET SIZE, BY MANUFACTURING PROCESS, 2020–2025 (KILOTON)
             11.3.3 NORTH AMERICA: COMPOSITES MARKET, BY END-USE INDUSTRY
                    TABLE 124 NORTH AMERICA: COMPOSITES MARKET SIZE, BY END-USE INDUSTRY, 2016–2019 (USD MILLION)
                    TABLE 125 NORTH AMERICA: COMPOSITES MARKET SIZE, BY END-USE INDUSTRY, 2016–2019 (KILOTON)
                    TABLE 126 NORTH AMERICA: COMPOSITES MARKET SIZE, BY END-USE INDUSTRY, 2020–2025 (USD MILLION)
                    TABLE 127 NORTH AMERICA: COMPOSITES MARKET SIZE, BY END-USE INDUSTRY, 2020–2025 (KILOTON)
             11.3.4 NORTH AMERICA: COMPOSITES MARKET, BY COUNTRY
                    TABLE 128 NORTH AMERICA: COMPOSITES MARKET SIZE, BY COUNTRY, 2016–2019 (USD MILLION)
                    TABLE 129 NORTH AMERICA: COMPOSITES MARKET SIZE, BY COUNTRY, 2016–2019 (KILOTON)
                    TABLE 130 NORTH AMERICA: COMPOSITES MARKET SIZE, BY COUNTRY, 2020–2025 (USD MILLION)
                    TABLE 131 NORTH AMERICA: COMPOSITES MARKET SIZE, BY COUNTRY, 2020–2025 (KILOTON)
                        11.3.4.1 US
                                 TABLE 132 US: NEW WIND ENERGY INSTALLATIONS, 2010–2019 (MW)
                        11.3.4.2 Canada
     11.4 EUROPE
          FIGURE 29 EUROPE: COMPOSITES MARKET SNAPSHOT
             11.4.1 EUROPE: COMPOSITES MARKET, BY FIBER TYPE
                    TABLE 133 EUROPE: COMPOSITES MARKET SIZE, BY FIBER TYPE, 2016–2019 (USD MILLION)
                    TABLE 134 EUROPE: COMPOSITES MARKET SIZE, BY FIBER TYPE, 2016–2019 (KILOTON)
                    TABLE 135 EUROPE: COMPOSITES MARKET SIZE, BY FIBER TYPE, 2020–2025 (USD MILLION)
                    TABLE 136 EUROPE: COMPOSITES MARKET SIZE, BY FIBER TYPE, 2020–2025 (KILOTON)
             11.4.2 EUROPE: COMPOSITES MARKET, BY MANUFACTURING PROCESS
                    TABLE 137 EUROPE: COMPOSITES MARKET SIZE, BY MANUFACTURING PROCESS, 2016–2019 (USD MILLION)
                    TABLE 138 EUROPE: COMPOSITES MARKET SIZE, BY MANUFACTURING PROCESS, 2016–2019 (KILOTON)
                    TABLE 139 EUROPE: COMPOSITES MARKET SIZE, BY MANUFACTURING PROCESS, 2020–2025 (USD MILLION)
                    TABLE 140 EUROPE: COMPOSITES MARKET SIZE, BY MANUFACTURING PROCESS, 2020–2025 (KILOTON)
             11.4.3 EUROPE: COMPOSITES MARKET, BY END-USE INDUSTRY
                    TABLE 141 EUROPE: COMPOSITES MARKET SIZE, BY END-USE INDUSTRY, 2016–2019 (USD MILLION)
                    TABLE 142 EUROPE: COMPOSITES MARKET SIZE, BY END-USE INDUSTRY, 2016–2019 (KILOTON)
                    TABLE 143 EUROPE: COMPOSITES MARKET SIZE, BY END-USE INDUSTRY, 2020–2025 (USD MILLION)
                    TABLE 144 EUROPE: COMPOSITES MARKET SIZE, BY END-USE INDUSTRY, 2020–2025 (KILOTON)
             11.4.4 EUROPE: COMPOSITES MARKET, BY COUNTRY
                    TABLE 145 EUROPE: COMPOSITES MARKET SIZE, BY COUNTRY, 2016–2019 (USD MILLION)
                    TABLE 146 EUROPE: COMPOSITES MARKET SIZE, BY COUNTRY, 2016–2019 (KILOTON)
             11.4.5 EUROPE: COMPOSITES MARKET, BY COUNTRY
                    TABLE 147 EUROPE: COMPOSITES MARKET SIZE, BY COUNTRY, 2020–2025 (USD MILLION)
                    TABLE 148 EUROPE: COMPOSITES MARKET SIZE, BY COUNTRY, 2020–2025 (KILOTON)
                        11.4.5.1 Germany
                                 TABLE 149 GERMANY: NEW WIND ENERGY INSTALLATIONS, 2010–2018 (MW)
                        11.4.5.2 France
                        11.4.5.3 UK
                        11.4.5.4 Italy
                        11.4.5.5 Spain
                        11.4.5.6 Russia
                        11.4.5.7 Rest of Europe
     11.5 APAC
          FIGURE 30 APAC: COMPOSITES MARKET SNAPSHOT
             11.5.1 APAC: COMPOSITES MARKET, BY FIBER TYPE
                    TABLE 150 APAC: COMPOSITES MARKET SIZE, BY FIBER TYPE, 2016–2019 (USD MILLION)
                    TABLE 151 APAC: COMPOSITES MARKET SIZE, BY FIBER TYPE, 2016–2019 (KILOTON)
                    TABLE 152 APAC: COMPOSITES MARKET SIZE, BY FIBER TYPE, 2020–2025 (USD MILLION)
                    TABLE 153 APAC: COMPOSITES MARKET SIZE, BY FIBER TYPE, 2020–2025 (KILOTON)
             11.5.2 APAC: COMPOSITES MARKET, BY MANUFACTURING PROCESS
                    TABLE 154 APAC: COMPOSITES MARKET SIZE, BY MANUFACTURING PROCESS, 2016–2019 (USD MILLION)
                    TABLE 155 APAC: COMPOSITES MARKET SIZE, BY MANUFACTURING PROCESS, 2016–2019 (KILOTON)
                    TABLE 156 APAC: COMPOSITES MARKET SIZE, BY MANUFACTURING PROCESS, 2020–2025 (USD MILLION)
                    TABLE 157 APAC: COMPOSITES MARKET SIZE, BY MANUFACTURING PROCESS, 2020–2025 (KILOTON)
             11.5.3 APAC: COMPOSITES MARKET, BY END-USE INDUSTRY
                    TABLE 158 APAC: COMPOSITES MARKET SIZE, BY END-USE INDUSTRY, 2016–2019 (USD MILLION)
                    TABLE 159 APAC: COMPOSITES MARKET SIZE, BY END-USE INDUSTRY, 2016–2019 (KILOTON)
                    TABLE 160 APAC: COMPOSITES MARKET SIZE, BY END-USE INDUSTRY, 2020–2025 (USD MILLION)
                    TABLE 161 APAC: COMPOSITES MARKET SIZE, BY END-USE INDUSTRY, 2020–2025 (KILOTON)
             11.5.4 APAC: COMPOSITES MARKET, BY COUNTRY
                    TABLE 162 APAC: COMPOSITES MARKET SIZE, BY COUNTRY, 2016–2019 (USD MILLION)
                    TABLE 163 APAC: COMPOSITES MARKET SIZE, BY COUNTRY, 2016–2019 (KILOTON)
                    TABLE 164 APAC: COMPOSITES MARKET SIZE, BY COUNTRY, 2020–2025 (USD MILLION)
                    TABLE 165 APAC: COMPOSITES MARKET SIZE, BY COUNTRY, 2020–2025 (KILOTON)
                        11.5.4.1 China
                                 TABLE 166 CHINA: NEW WIND ENERGY INSTALLATIONS, 2010–2019 (MW)
                        11.5.4.2 Japan
                        11.5.4.3 India
                        11.5.4.4 South Korea
                        11.5.4.5 Rest of APAC
     11.6 MIDDLE EAST & AFRICA (MEA)
             11.6.1 MEA: COMPOSITES MARKET, BY FIBER TYPE
                    TABLE 167 MEA: COMPOSITES MARKET SIZE, BY FIBER TYPE, 2016–2019 (USD MILLION)
                    TABLE 168 MEA: COMPOSITES MARKET SIZE, BY FIBER TYPE, 2016–2019 (KILOTON)
                    TABLE 169 MEA: COMPOSITES MARKET SIZE, BY FIBER TYPE, 2020–2025 (USD MILLION)
                    TABLE 170 MEA: COMPOSITES MARKET SIZE, BY FIBER TYPE, 2020–2025 (KILOTON)
             11.6.2 MEA: COMPOSITES MARKET, BY MANUFACTURING PROCESS
                    TABLE 171 MEA: COMPOSITES MARKET SIZE, BY MANUFACTURING PROCESS, 2016–2019 (USD MILLION)
                    TABLE 172 MEA: COMPOSITES MARKET SIZE, BY MANUFACTURING PROCESS, 2016–2019 (KILOTON)
                    TABLE 173 MEA: COMPOSITES MARKET SIZE, BY MANUFACTURING PROCESS, 2020–2025 (USD MILLION)
                    TABLE 174 MEA: COMPOSITES MARKET SIZE, BY MANUFACTURING PROCESS, 2020–2025 (KILOTON)
             11.6.3 MEA: COMPOSITES MARKET, BY END-USE INDUSTRY
                    TABLE 175 MEA: COMPOSITES MARKET SIZE, BY END-USE INDUSTRY, 2016–2019 (USD MILLION)
                    TABLE 176 MEA: COMPOSITES MARKET SIZE, BY END-USE INDUSTRY, 2016–2019 (KILOTON)
                    TABLE 177 MEA: COMPOSITES MARKET SIZE, BY END-USE INDUSTRY, 2020–2025 (USD MILLION)
                    TABLE 178 MEA: COMPOSITES MARKET SIZE, BY END-USE INDUSTRY, 2020–2025 (KILOTON)
             11.6.4 MEA: COMPOSITES MARKET, BY COUNTRY
                    TABLE 179 MEA: COMPOSITES MARKET SIZE, BY COUNTRY, 2016–2019 (USD MILLION)
                    TABLE 180 MEA: COMPOSITES MARKET SIZE, BY COUNTRY, 2016–2019 (KILOTON)
                    TABLE 181 MEA: COMPOSITES MARKET SIZE, BY COUNTRY, 2020–2025 (USD MILLION)
                    TABLE 182 MEA: COMPOSITES MARKET SIZE, BY COUNTRY, 2020–2025 (KILOTON)
                        11.6.4.1 UAE
                        11.6.4.2 Saudi Arabia
                        11.6.4.3 Rest of MEA
     11.7 LATIN AMERICA
             11.7.1 LATIN AMERICA: COMPOSITES MARKET, BY FIBER TYPE
                    TABLE 183 LATIN AMERICA: COMPOSITES MARKET SIZE, BY FIBER TYPE, 2016–2019 (USD MILLION)
                    TABLE 184 LATIN AMERICA: COMPOSITES MARKET SIZE, BY FIBER TYPE, 2016–2019 (KILOTON)
                    TABLE 185 LATIN AMERICA: COMPOSITES MARKET SIZE, BY FIBER TYPE, 2020–2025 (USD MILLION)
                    TABLE 186 LATIN AMERICA: COMPOSITES MARKET SIZE, BY FIBER TYPE, 2020–2025 (KILOTON)
             11.7.2 LATIN AMERICA: COMPOSITES MARKET, BY MANUFACTURING PROCESS
                    TABLE 187 LATIN AMERICA: COMPOSITES MARKET SIZE, BY MANUFACTURING PROCESS, 2016–2019 (USD MILLION)
                    TABLE 188 LATIN AMERICA: COMPOSITES MARKET SIZE, BY MANUFACTURING PROCESS, 2016–2019 (KILOTON)
                    TABLE 189 LATIN AMERICA: COMPOSITES MARKET SIZE, BY MANUFACTURING PROCESS, 2020–2025 (USD MILLION)
                    TABLE 190 LATIN AMERICA: COMPOSITES MARKET SIZE, BY MANUFACTURING PROCESS, 2020–2025 (KILOTON)
             11.7.3 LATIN AMERICA: COMPOSITES MARKET, BY END-USE INDUSTRY
                    TABLE 191 LATIN AMERICA: COMPOSITES MARKET SIZE, BY END-USE INDUSTRY, 2016–2019 (USD MILLION)
                    TABLE 192 LATIN AMERICA: COMPOSITES MARKET SIZE, BY END-USE INDUSTRY, 2016–2019 (KILOTON)
                    TABLE 193 LATIN AMERICA: COMPOSITES MARKET SIZE, BY END-USE INDUSTRY, 2020–2025 (USD MILLION)
                    TABLE 194 LATIN AMERICA: COMPOSITES MARKET SIZE, BY END-USE INDUSTRY, 2020–2025 (KILOTON)
             11.7.4 LATIN AMERICA: COMPOSITES MARKET, BY COUNTRY
                    TABLE 195 LATIN AMERICA: COMPOSITES MARKET SIZE, BY COUNTRY, 2016–2019 (USD MILLION)
                    TABLE 196 LATIN AMERICA: COMPOSITES MARKET SIZE, BY COUNTRY, 2016–2019 (KILOTON)
                    TABLE 197 LATIN AMERICA: COMPOSITES MARKET SIZE, BY COUNTRY, 2020–2025 (USD MILLION)
                    TABLE 198 LATIN AMERICA: COMPOSITES MARKET SIZE, BY COUNTRY, 2020–2025 (KILOTON)
                        11.7.4.1 Brazil
                    TABLE 199 BRAZIL: NEW WIND ENERGY INSTALLATIONS, 2010–2019 (MW)
                        11.7.4.2 Mexico
                        11.7.4.3 Rest of Latin America

12 COMPETITIVE LANDSCAPE (Page No. - 196)
     12.1 INTRODUCTION
          FIGURE 31 EXPANSION AND MERGER & ACQUISITION ARE THE KEY GROWTH STRATEGIES ADOPTED BETWEEN 2014 AND 2019
     12.2 COMPETITIVE LEADERSHIP MAPPING
             12.2.1 VISIONARY LEADERS
             12.2.2 DYNAMIC DIFFERENTIATORS
             12.2.3 EMERGING COMPANIES
             12.2.4 INNOVATORS
                    TABLEFIGURE 32 COMPOSITES MARKET: COMPETITIVE LEADERSHIP MAPPING, 2018
     12.3 STRENGTH OF PRODUCT PORTFOLIO
     12.4 BUSINESS STRATEGY EXCELLENCE
     12.5 MARKET RANKING
     12.6 COMPETITIVE SCENARIO
             12.6.1 AGREEMENT
                    TABLE 200 AGREEMENT, 2014–2020
             12.6.2 CONTRACT
                    TABLE 201 CONTRACT, 2014–2020
             12.6.3 EXPANSION
                    TABLE 202 EXPANSION, 2014–2020
             12.6.4 NEW PRODUCT/TECHNOLOGY LAUNCH
                    TABLE 203 NEW PRODUCT/TECHNOLOGY LAUNCH, 2014–2020
             12.6.5 PARTNERSHIP AND COLLABORATION
                    TABLE 204 PARTNERSHIP AND COLLABORATION, 2014–2020
             12.6.6 MERGER & ACQUISITION, INVESTMENT, AND DIVERSIFICATION
                    TABLE 205 MERGER & ACQUISITION, INVESTMENT, AND DIVERSIFICATION 2014–2020
             12.6.7 JOINT VENTURE
                    TABLE 206 JOINT VENTURE, 2014–2020

13 COMPANY PROFILES (Page No. - 221)
(Business overview, Products offered, Recent developments, SWOT analysis, Winning imperatives, Current Focus and Strategies, Threat from Competition, Right to Win)*
     13.1 OWENS CORNING
          FIGURE 33 OWENS CORNING: COMPANY SNAPSHOT
          TABLE 207 WALLET SHARE OF OWENS CORNING FROM BUSINESS REVENUE MIX
          FIGURE 34 OWENS CORNING: SWOT ANALYSIS
     13.2 TORAY INDUSTRIES, INC.
          FIGURE 35 TORAY INDUSTRIES, INC.: COMPANY SNAPSHOT
          FIGURE 36 TORAY INDUSTRIES, INC.: SWOT ANALYSIS
     13.3 TEIJIN LIMITED
          FIGURE 37 TEIJIN LIMITED: COMPANY SNAPSHOT
          FIGURE 38 TEIJIN LIMITED: SWOT ANALYSIS
     13.4 MITSUBISHI CHEMICAL HOLDINGS CORPORATION
          FIGURE 39 MITSUBISHI CHEMICAL HOLDINGS CORPORATION: COMPANY SNAPSHOT
          FIGURE 40 MITSUBISHI CHEMICAL HOLDINGS CORPORATION: SWOT ANALYSIS
     13.5 HEXCEL CORPORATION
          FIGURE 41 HEXCEL CORPORATION: COMPANY SNAPSHOT
          TABLE 208 MAJOR MANUFACTURING PLANTS LOCATION
          TABLE 209 KEY CUSTOMERS
          FIGURE 42 HEXCEL CORPORATION: SWOT ANALYSIS
     13.6 SGL GROUP
          FIGURE 43 SGL GROUP: COMPANY SNAPSHOT
     13.7 NIPPON ELECTRIC GLASS CO. LTD.
          FIGURE 44 NIPPON ELECTRIC GLASS CO. LTD.: COMPANY SNAPSHOT
     13.8 HUNTSMAN INTERNATIONAL LLC.
          FIGURE 45 HUNTSMAN CORPORATION: COMPANY SNAPSHOT
     13.9 SOLVAY
          FIGURE 46 SOLVAY: COMPANY SNAPSHOT
     13.10 HEXION
           FIGURE 47 HEXION: COMPANY SNAPSHOT
     13.11 GURIT
           FIGURE 48 GURIT: COMPANY SNAPSHOT
     13.12 WEYERHAEUSER COMPANY
           FIGURE 49 WEYERHAEUSER: COMPANY SNAPSHOT
     13.13 CHONGQING POLYCOMP INTERNATIONAL CORPORATION
     13.14 JUSHI GROUP CO., LTD.
     13.15 TAISHAN FIBERGLASS INC.(CTG)
*Business overview, Products offered, Recent developments, SWOT analysis, Winning imperatives, Current Focus and Strategies, Threat from Competition, Right to Win might not be captured in case of unlisted companies.
     13.16 OTHERS
             13.16.1 BASF SE
             13.16.2 DOWAKSA
             13.16.3 HONEYWELL INTERNATIONAL INC.
             13.16.4 RENEGADE MATERIALS CORPORATION
             13.16.5 KINECO KAMAN COMPOSITES – INDIA PRIVATE LIMITED
             13.16.6 HENKEL AG & CO. KGAA
             13.16.7 UPM BIOCOMPOSITES
             13.16.8 TREX COMPANY, INC.
             13.16.9 GAFFCO BALLISTICS
             13.16.10 BINANI INDUSTRIES LTD.

14 APPENDIX (Page No. - 284)
     14.1 DISCUSSION GUIDE
     14.2 KNOWLEDGE STORE: MARKETSANDMARKETS SUBSCRIPTION PORTAL
     14.3 AVAILABLE CUSTOMIZATIONS
     14.4 RELATED REPORTS
     14.5 AUTHOR DETAILS

The study involves two major activities in estimating the current size of the composites market. Exhaustive secondary research was done to collect information on the market, the peer market, and the parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both the top-down and bottom-up approaches were employed to estimate the total market size. After that, market breakdown and data triangulation procedures were used to determine the extent of market segments and sub-segments.

Secondary Research

In the secondary research process, various secondary sources, such as Hoovers, Bloomberg BusinessWeek, and Factiva, were referred to identify and collect information for this study. These secondary sources included annual reports, press releases & investor presentations of companies, white papers, certified publications, articles by recognized authors, gold standard & silver standard websites, regulatory bodies, trade directories, and databases.

Primary Research

The composites market comprises several stakeholders, such as raw material suppliers, processors, end-product manufacturers, and regulatory organizations in the supply chain. The demand side of this market is characterized by the development of mainly the transportation, wind energy, aerospace & defense, and construction & infrastructure end-use industries. Advancements in technology and diverse applications in various end-use industries describe the supply side. Various primary sources from both the supply and demand sides of the market were interviewed to obtain qualitative and quantitative information.

Following is the breakdown of primary respondents:

Adaptive Learning Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

Both the top-down and bottom-up approaches were used to estimate and validate the total composites market. These methods were also used extensively to determine the size of various sub-segments in the market. The research methodology used to estimate the market size included the following:

  • The key players in the industry and markets were identified through extensive secondary research.
  • The industry’s supply chain and market size, in terms of value, were determined through primary and secondary research processes.
  • All percentage shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.

Data Triangulation

After arriving at the overall composites market size using the market size estimation processes as explained above, the market was split into several segments and sub-segments. To complete the whole market engineering process and arrive at the exact statistics of each market segment and subsegment, the data triangulation, and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides, mainly from the automotive & transportation, wind energy, aerospace & defense, and construction & infrastructure end-use industries.

Report Objectives

  • To analyze and forecast the global composites market size, in terms of volume and value
  • To provide detailed information about the key factors (drivers, restraints, opportunities, and challenges) influencing the growth of the market
  • To analyze the market segmentation and forecast the market size based on resin type, fiber type, manufacturing process, and end-use industry
  • To analyze and forecast the market size based on five main regions, namely, Asia Pacific (APAC), Europe, North America, Middle East & Africa (MEA), and Latin America
  • To analyze the market with respect to individual growth trends, prospects, and contribution of submarkets to the total market
  • To analyze the market opportunities and the competitive landscape for stakeholders and market leaders
  • To analyze competitive developments such as expansions, partnership, agreement, new product/technology launch, joint venture, contract, and merger & acquisition in the market
  • To profile key players and comprehensively analyze their market share and core competencies

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to the company’s specific needs.

The following customization options are available for the report:

Product Analysis

  • Product matrix, which gives a detailed comparison of the product portfolio of each company

Regional Analysis

  • Further breakdown of Rest of APAC composites market
  • Further breakdown of Rest of European composites market
  • Further breakdown of Rest of North American composites market
  • Further breakdown of Rest of MEA composites market
  • Further breakdown of Rest of Latin American composites market

Company Information

  • Detailed analysis and profiling of additional market players (up to 10)
COVID-19

Get in-depth analysis of the COVID-19 impact on the Composites Market

Benchmarking the rapid strategy shifts of the Top 100 companies in the Composites Market

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Report Code
CH 3185
Published ON
Jul, 2020
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